International Business Law
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Course Introduction
International Business Law examines the legal frameworks and regulations that govern cross-border commercial activities and transactions. The course covers key topics such as international contracts, dispute resolution, trade regulations, intellectual property rights, and the role of multinational agreements and organizations like the World Trade Organization (WTO). Students will explore how different legal systems interact in the global marketplace and analyze the impact of laws and treaties on international business operations. Through case studies and real-world scenarios, the course aims to develop a thorough understanding of legal risks and compliance strategies essential for conducting business internationally.
Recommended Textbook
International Business 1st Edition by Michael Geringer
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18 Chapters
2767 Verified Questions
2767 Flashcards
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Page 2
Chapter 1: The Challenging Context of International Business
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Sample Questions
Q1) Decision making in the international environment is __________ it is in a purely domestic environment.
A) less complex than B) less demanding than C) more complex than D) about the same as E) exactly the same as
Answer: C
Q2) According to opponents of the globalization of trade and investment
A) globalization has contributed to an improvement in environmental and health conditions.
B) globalization benefits all nations and workers.
C) globalization has produced uneven results across nations and people.
D) citizens from more globally integrated countries have lower levels of civil liberties and lower economic prosperity.
E) globalization has increased the proportion of children in the labor force worldwide.
Answer: C
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Page 3
Chapter 2: International Trade and Investment
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Sample Questions
Q1) In examining which nations are responsible for the large and growing levels of merchandise and services trade that we have seen worldwide
A) the 10 largest exporters and importers are all from developed countries.
B) China ranks as the largest in levels of both merchandise and services exports.
C) the U.S. ranks as the largest in levels of both merchandise and services imports.
D) the European Union ranks as the largest country for merchandise exports.
E) China ranks first or second in each of merchandise and services exports and imports.
Answer: C
Q2) ____________ refers to the establishment of new facilities from the ground up.
Answer: Greenfield investment
Explanation: Greenfield investment refers to the establishment of new facilities from the ground up.
Q3) A(n)____________ is an industry with a limited number of competing firms.
Answer: oligopolistic industry
Explanation: An oligopolistic industry is an industry with a limited number of competing firms.
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Chapter 3: Sociocultural Forces
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Sample Questions
Q1) Culture is like _____________,with the surface culture and the deeper,unknown portions of culture,values,attitudes,and beliefs,hidden.
Answer: an iceberg
Explanation: This metaphor is effective in helping students appreciate the deeper, more powerful aspects of culture.
Q2) The explicit communicator in an LC culture (Hall)is
A) direct, unsubtle, and unambiguous: What you say is what you mean.
B) subtle, nuanced and indirect: Meaning accrues through not exactly what is said or done.
C) trying to close a deal and catch the next flight home, which was booked before arrival.
D) ready to act and tends to communicate in an indirect and polite way.
Answer: A
Q3) Conversational distance
A) is a constant globally.
B) varies across cultures.
C) determines the power distance in a culture.
D) is directly linked with body language.
Answer: B
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Page 5
Chapter 4: Sustainability and Natural Resources
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Sample Questions
Q1) Walmart discovered that it could compete on price and build a sustainable business.
A)True
B)False
Q2) The stakeholder model requires businesses to think about:
A) the stakeholders' interest in profitability.
B) the network of tensions caused by competing demands.
C) strategy in light of sustainability.
D) the frequency of social issues faced by the stakeholders.
Q3) A country's ____________ explains many of its political and trade relationships.
Q4) Europe's more densely populated cities may account partially for higher levels of __________ values than in the individualistic United States,which is a positive force for sustainability.
Q5) _________________ is one way businesses have approached control of their value chains to promote equity.
Q6) Sustainability is a __________________ because it combines a group of interconnected elements that forms a complex whole.
Q7) Energy that comes from sources that cannot be replenished is known as _____________ energy.
Page 6
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Chapter 5: Political Forces That Affect Global Trade
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Sample Questions
Q1) The imposition of standards is a way to establish nontariff barriers,and the following are examples of the imposition of standards,except for:
A) Japan's refusal to import light mayonnaise containing potassium sorbate.
B) Canada's categorization of orange juice with added calcium as a drug, subject to special requirements.
C) the prohibition of imported drugs at the consumer level in the U.S.
D) tariffs on certain barbiturate imports into the U.S.
Q2) Governments nationalize private firms in order to
A) extract money from the firms when the firms are suspected of concealing profits.
B) decrease exports to balance the balance of payments.
C) learn about business development experientially.
D) punish workers at the firms for their political activism.
Q3) A ____________ duty is a fixed sum charged for a specific number of the product.
Q4) Many business leaders increase their organization's potential vulnerability to cybercrime by not monitoring both their IT and traditional _____________.
Q5) To protect an infant or ____________ industry,some argue that these firms need protection from imports.
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Chapter 6: Intellectual Property Rights and Other Legal Forces
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Sample Questions
Q1) The ______ Tort Statute allows some non-U.S.nationals to file lawsuits in U.S.courts for alleged violations of international law,including human rights violations.
Q2) Standardization of law
A) would challenge international business because IB would lose protection.
B) would make IB work more smoothly because uniform, predictable laws would result.
C) has not been progressing due to nationalism and patriotism.
D) does not take into account cultural aspects of legal regulations.
Q3) The concept of strict liability,as found in the U.S.legal system,applies
A) to harm done by the designer/manufacturer without the need to prove negligence.
B) to harm done within narrow limits, considering the design of the product.
C) to children harmed by products in both the U.S. and the EU.
D) strictly to harm caused by the designer/manufacturer, so no penalties outside of damages can be awarded.
Q4) International Organization for Standardization (ISO)is the only international standardizing organization.
A)True
B)False
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Chapter 7: Economic and Socioeconomic Forces
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Sample Questions
Q1) According to the text,which of the following is not one of the rationales for why most seasoned managers supplement their analyses by looking at economic growth rates as well as measures of an economy's absolute size?
A) Emerging and developing economies grew more than three times faster in 2012 and 2013 than did developed economies.
B) GNI forecasts on their own are of no value to managers conducting economic analyses.
C) Forecasts suggested that emerging and developing economies would grow at more than double the rate of developed economies in 2014 and 2015.
D) Data such as overall GNI or GNI per capita can provide a snapshot of the size of an economy, but they fail to inform a manager about whether and how fast an economy is growing, or perhaps even shrinking.
E) Rapid and rising economic growth rates suggest consumer demand, which often indicates that trade and foreign direct investment are likely to increase as well.
Q2) A common basis for assessing economic development is gross domestic income.
A)True
B)False
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Page 9
Chapter 8: The International Monetary System and Financial Forces
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Sample Questions
Q1) In an inflationary economy the following conditions may be present:
A) demand exceeds supply.
B) money supply is increasing.
C) prices are rising.
D) All of these options are correct.
Q2) The trend toward reduced variation in interest rates across a wide group of economies can be explained by _________________.
Q3) According to the BIS,the ________ is the most popular vehicle currency.
Q4) Taxation is a financial force in that
A) if the firm can achieve a lower tax burden than its competitors, it can generate higher revenues, and then lower its prices or pay higher wages and dividends.
B) governments that enact taxes are formal institutions that enforce tax law via force.
C) businesses are compelled by foreign governments to pay taxes.
D) it is not controlled by the firm.
Q5) A _________________ is holdings a country can draw on when needed to finance trade or investments or to intervene in currency markets.
Q6) The highest inflation rate recorded was in ______________.
Page 10
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Chapter 9: International Competitive Strategy
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Sample Questions
Q1) When a company faces strong pressures for reducing costs and limited pressure to adapt products for local markets,it should tend to use a
A) global strategy.
B) multidomestic strategy.
C) transnational strategy.
D) differentiation strategy.
E) home replication strategy.
Q2) ________ are multiple,plausible stories for probable futures.
Q3) In response to China's requirement to censor Internet searches
A) Google chose not to enter that country.
B) Google refused to engage in censorship, including a disclosure on its site that no censorship had occurred.
C) Google agreed to engage in censorship, disclosing to customers that censorship had occurred.
D) Google provided users of its Chinese site with a hot link to its uncensored U.S. site, which prevented the Chinese government from restricting Chinese users access to uncensored content.
E) Google supported cyberattacks against Chinese government servers.
Q4) What is international strategy and why it is important?
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Chapter 10: Organizational Design and Control
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Sample Questions
Q1) According to the text,which of the following dimensions do not provide the basis for organizational subdivisions at the secondary,tertiary,and still lower levels?
A) Size of company
B) National subsidiary
C) Domestic or international
D) Function
E) Customer class
Q2) Changes in an international company's strategy may require changes in the organization's design,but not the reverse.
A)True
B)False
Q3) An organizational structure composed of one or more superimposed organizational structures is a __________ organization.
Q4) The international product structure eliminates the duplication of product and area specialists.
A)True
B)False
Q5) Few international companies are organized by __________ at the top level.
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Chapter 11: Global Leadership Issues and Practices
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Sample Questions
Q1) According to the text,research indicates that many CEOs feel that a prerequisite for global industry dominance is
A) being socially responsible.
B) having good technology.
C) developing a company global mind-set.
D) understanding culture and geography.
E) being open to and aware of diversity within cultures and markets.
Q2) The manager with a ____________ is open to other cultures,and is eager to approach issues from multiple perspectives.
Q3) Cultural ______ is the extent to which you appreciate contributions of host nationals and recognize that you have something to learn from their country.It allows you to understand how your behavior is interpreted by the host country members with whom you interact.
Q4) ___________ is an important global study of leadership using data from 17,300 middle managers from 951 organizations in the food processing,financial services,and telecommunications services industries.
Q5) Seeing what needs to be done is a management,rather than a leadership,element.
A)True B)False
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Chapter 12: International Markets: Assessment and Entry
Modes
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Sample Questions
Q1) There are several criteria for segmenting markets.Which of the following is not a criterion for segmenting?
A) Definable
B) Accessible
C) Small
D) Actionable
Q2) According to the text,a market's potential for new products can be measured by
A) import levels.
B) standard of living.
C) disposable income.
D) xenophobic indices.
Q3) Basic need potential can be assessed
A) using data obtainable from standard sources.
B) by visiting the market and doing on-the-ground research.
C) by doing calculations on present imports.
D) by examining product substitutions.
Q4) Environmental scanning is used during the process of _____________ to provide information about the world in which the business operates.
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Q5) Most firms begin their involvement in international business by ____________.
Chapter 13: Marketing Internationally
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Sample Questions
Q1) There is some evidence that in ____________ and Japan,perceived price-quality relationships are high.
Q2) _____________ sued successfully for libel in an English court,asserting that public criticism had no basis in fact.
Q3) Examples of goods that can be sold worldwide without adaptation include A) memory chips.
B) clothing.
C) cars and trucks.
D) packaged cake mixes.
Q4) Generally,as marketers go down the economic and social strata in each country,they will tend to find
A) similarities among countries in social and cultural values.
B) dissimilarities among countries in social and cultural values.
C) no significant differences in social and cultural values.
D) greater government support and thus disposable income for each succeeding lower stratum.
Q5) Advertising is generally more effective than the other promotional mix elements. A)True B)False
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Chapter 14: Managing Human Resources in an International Context
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Sample Questions
Q1) Planning for an expatriate's return should begin while he or she is still on his or her overseas assignment.
A)True
B)False
Q2) Which of the following is not true about immigration and the U.S.?
A) Roughly 53 percent of foreign students remain in the United States after receiving doctorates in science.
B) More than half of U.S. workers with doctorates in engineering are foreign-born.
C) Immigrants to the United States create new businesses at a rate 30 percent higher than do native-born citizens.
D) Immigrants created 25 percent of the venture capital-backed public companies in the United States, including Google, Intel, Yahoo!, and eBay.
E) Almost 10 percent of college-educated workers in the United States are foreign-born.
Q3) Employees who are citizens of the home country are called home __________.
Q4) People who go to a foreign country legally to perform certain types of jobs are ____________________.
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Page 16
Chapter 15: International Accounting and Financial Management
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Q1) Economic exposure is the potential for unanticipated exchange rate movements to affect future cash flows.
A)True
B)False
Q2) A forward market hedge
A) is accomplished by a contract in the foreign exchange market.
B) involves credit.
C) should be avoided.
D) is rarely used.
Q3) In the forward market hedge example in the book,the exporter Nucor would deliver the euro it receives from the Spanish importer in return for US dollars from the other party to the forward contract.Hence,Nucor is in a covered position.
A)True
B)False
Q4) The functional currency is
A) the primary currency of the business.
B) the currency with the most advantageous interest rate.
C) the currency of the home office.
D) whatever currency the buyer would like to use for the transaction.
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Chapter 16: Appendix A: International Institutions From a Business Perspective
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Sample Questions
Q1) Informal normative institutions
A) establish standards and propagate principles (UN, professional organizations).
B) are recognized for their charity work.
C) use class hierarchy to establish values.
D) are found in few industrial economies.
Q2) Economic integration
A) involves a common market and a high degree of political integration.
B) is essentially a marketing program whose goal is to increase market penetration.
C) has not been attempted since the dissolution of the Soviet Union.
D) depends on the cultural similarities of its members.
Q3) In developing economies,informal institutions tend to play a greater role than in developed economies,possibly because
A) the developing economies have more ambiguity and lack formal institutions by definition, so informal institutions step into the breach.
B) developing economies show cultural preference for informality.
C) these economies have not learned about formal institutions.
D) informal institutions are less expensive to develop.
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Page 18
Chapter 17: Appendix B: Export and Import Practices
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Q1) The sale of an exporter's accounts receivable on ordinary goods,with the balance of the payment due upon delivery or soon after is known as
Q2) A document issued by the buyer's bank in which the bank promises to pay the seller a specified amount under specified conditions is a
Q3) Rebates on customs duties are known as
Q4) A confirmed letter of credit guarantees payment to the seller.
A)True
B)False
Q5) Once the potential exporter has established that there may be a market for the firm's products,the next task is to draft the ____________ plan.
Q6) The sale of an exporter's accounts receivable on capital goods,commodities,and other high-value goods,with the payment due at least 180 days out is
A) forfaiting.
B) consignment.
C) factoring.
D) banker's acceptance.
E) time draft.
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Page 19
Chapter 18: Appendix C: Global Operations and Supply Chain Management
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Sample Questions
Q1) Which of the following is not true about Six Sigma?
A) It is a process for reducing defects and eliminating variation.
B) It literally means a maximum of 3.4 defects per thousand occurrences.
C) It includes five steps: define, measure, analyze, improve, and control.
D) The CEO is often the driving force for implementing Six Sigma.
Q2) Packaging and transportation requirements for a product can significantly influence logistics costs,and these factors should be addressed during the post-design steps in a company's value chain.
A)True
B)False
Q3) According to the text,which of the following is true?
A) Zara's competitive advantage comes from its stylish fashion design.
B) Zara's supply chain management processes have allowed the company to eliminate inventory.
C) Zara removes its product lines, including ones that have been selling well, every two weeks or so.
D) Zara is able to locate all of its production in Spain and nearby areas, thereby avoiding complicated transportation and other logistics costs.
Q4) Outsourcing overseas is often called _______________.
Page 20
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